Inditrade Capital Ltd (532745)
🎯 Key Takeaways
- Inditrade Capital Ltd appears to be in a distressed phase, marked by persistent losses, negative returns, and deteriorating financial metrics. The company has reported consecutive quarterly losses with widening deficits in both operations and net income, signaling operational instability.
- Revenue declined 179.7% QoQ to ₹-10 in Q4FY25.
- ⚠️ Persistent operational losses and negative cash flows with no signs of improvement.
📖 The Story
Inditrade Capital Ltd appears to be in a distressed phase, marked by persistent losses, negative returns, and deteriorating financial metrics. The company has reported consecutive quarterly losses with widening deficits in both operations and net income, signaling operational instability. Despite a stable shareholding structure, the financial trajectory reflects a business under significant stress without clear signs of stabilization or recovery.
📰 What's Happening
Management has not announced any new strategic initiatives or operational expansions in recent filings. The company continues to operate at a loss, with operating performance turning increasingly negative from ₹29 crore revenue and ₹0.12 EPS in June 2024 to ₹-10 crore revenue and ₹-25.87 EPS by March 2025. There are no indications of new contracts, asset acquisitions, or restructuring plans disclosed in the latest regulatory filings.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 |
|---|---|---|---|---|
| Revenue | 29 | 22 | 13 | -10 |
| Operating Profit | -0 | -12 | -11 | -106 |
| OPM % | -1.4% | -55.9% | -84.6% | 1036.8% |
| Net Profit | 0 | -2 | -7 | -96 |
| EPS | ₹0.12 | ₹-0.69 | ₹-2.94 | ₹-25.87 |
The company's financial trajectory shows a sharp reversal from profitability to sustained losses, with revenue declining from ₹29 crore to ₹13 crore over four quarters while losses expanded from ₹0.12 EPS to ₹-25.87 EPS. Operating losses have deepened, and margins have deteriorated from -1.4% to 1036.8% (an accounting anomaly due to negative base), indicating erratic performance rather than operational improvement. The trend suggests no meaningful recovery, with each quarter worsening despite minor fluctuations in revenue.
🔮 Management Outlook & What's Next
There is no available forward guidance or explicit outlook from management in the latest filings. The company has not provided any projections, strategic roadmap, or commentary on future performance in the recent quarterly results or accompanying management discussion. This absence of forward-looking commentary reinforces concerns about transparency and confidence in future performance.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2024 | Mar 2025 | Mar 2025 | Mar 2025 |
|---|---|---|---|---|
| Equity Capital | 23 | 23 | 23 | 23 |
| Reserves | 95 | 93 | 86 | 48 |
| Borrowings | 150 | 127 | 130 | 174 |
| Total Liabilities | 404 | 376 | 371 | 319 |
| Fixed Assets | 30 | 4 | 1 | 1 |
| Investments | 14 | 14 | 14 | 13 |
| Total Assets | 404 | 376 | 371 | 319 |
The balance sheet indicates a stable equity base of ₹23 crore but a significant increase in reserves and surplus from ₹93 crore to ₹48 crore in the latest quarter, which appears inconsistent with cumulative losses. Borrowings have risen to ₹174 crore from ₹127 crore, suggesting increased reliance on debt financing despite losses. Total assets have declined from ₹376 crore to ₹319 crore, reflecting asset reduction or revaluation, but the growing debt burden relative to equity raises solvency concerns.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2024 |
|---|---|
| Operating | +91 |
| Investing | -7 |
| Financing | -105 |
| Net Cash Flow | -21 |
👥 Shareholding Pattern
| Category | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 |
|---|---|---|---|---|
| Promoters | 6.4% | 6.4% | 6.4% | 6.4% |
| FII | 0.2% | 0.2% | 0.2% | 0.2% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 58.2% | 58.2% | 58.2% | 58.2% |
| # Shareholders | 8,573 | 8,573 | 8,573 | 8,573 |
Shareholding patterns remain unchanged across quarters, with promoter holding steady at 6.42% and FII/DII at 0.19% and 0% respectively. The stock is widely held by the public (58.17%) across 8,573 shareholders, but there is no evidence of institutional accumulation or significant movement. The lack of change suggests limited investor confidence or interest, with no new investors emerging in recent quarters.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.58 L Cr | 32.4 | 10.4% | 18.1% | 3.82 |
| BAJAJFINSV | 3.19 L Cr | 31.3 | 11.4% | 26.5% | 5.50 |
| SHRIRAMFIN | 2.46 L Cr | 18.5 | 11.5% | 17.1% | 3.80 |
| JIOFIN | 1.56 L Cr | 73.6 | 2.3% | 1.6% | 0.17 |
| CHOLAFIN | 1.55 L Cr | 26.8 | 9.3% | 18.9% | 6.93 |
| TATACAP | 1.55 L Cr | 28.3 | 8.4% | 12.3% | 5.28 |
| ICICIAMC | 1.47 L Cr | 29.5 | 111.5% | 83.6% | 0.00 |
| BAJAJHLDNG | 1.23 L Cr | 13.9 | 12.4% | 12.3% | 0.00 |
| MUTHOOTFIN | 1.18 L Cr | 10.4 | 14.4% | 29.3% | 3.88 |
| SBIFUNDS | 1.15 L Cr | — | — | — | 0.00 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Persistent operational losses and negative cash flows with no signs of improvement. 2. Escalating debt levels amid shrinking equity base, raising solvency risks. 3. Absence of management guidance or strategic clarity, indicating potential operational uncertainty. 4. Accounting anomalies in margin reporting (e.g., 1036.8% OPM) that undermine credibility of financial disclosures.
🧠 Analyst's Read
The company is undergoing a severe financial downturn with no visible corrective actions or strategic direction from management. Investors should monitor for any signs of restructuring, capital raising, or leadership changes, but current indicators suggest limited prospects for recovery without external intervention.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-03.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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